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Swiss gold exports to India near Rs 1-trillion in 2014

Amid concerns of bullion trade being used for routing of black money, Switzerland’s gold exports to India have risen further and is fast approaching Rs 1 trillion mark for the entire 2014.

The Swiss gold exports to India stood at over 2.8 billion Swiss francs (over Rs 18,000 crore) in October, up from about 2.2 billion Swiss francs in the previous month, shows the latest data from the Swiss Customs Administration.

This has taken the total Swiss gold exports to India since January this year to 14.2 billion Swiss francs (nearly Rs 93,000 crore), as per the data compiled by Switzerland’s cross-border trade monitoring agency.